Summit Materials, Inc. (NYSE:SUM – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $47.40.
Several research analysts have recently commented on SUM shares. Morgan Stanley assumed coverage on shares of Summit Materials in a report on Monday, August 26th. They set an “overweight” rating and a $51.00 target price on the stock. Truist Financial lowered their price objective on Summit Materials from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $47.00 price objective on shares of Summit Materials in a report on Tuesday, August 6th. Citigroup increased their target price on Summit Materials from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on Summit Materials from $55.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd.
Institutional Investors Weigh In On Summit Materials
Summit Materials Stock Performance
Shares of NYSE SUM opened at $37.06 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.62 and a quick ratio of 2.01. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 16.54 and a beta of 1.17. The stock’s fifty day moving average price is $38.57 and its two-hundred day moving average price is $39.02. Summit Materials has a one year low of $30.83 and a one year high of $44.89.
Summit Materials (NYSE:SUM – Get Free Report) last released its quarterly earnings results on Monday, August 5th. The construction company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. Summit Materials had a net margin of 8.06% and a return on equity of 7.00%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Summit Materials’s revenue was up 58.1% compared to the same quarter last year. On average, equities analysts forecast that Summit Materials will post 1.67 EPS for the current year.
About Summit Materials
Summit Materials, Inc operates as a vertically integrated construction materials company in the United States and Canada. It operates in three segments: West, East, and Cement. The company offers aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components.
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